Chinese Chipmaking Supplier Shares Soar After Reports of Japanese Curbs

(Bloomberg) — Shares in Chinese suppliers of materials for semiconductors surged after unsubstantiated reports of impending Japanese export curbs circulated on social media, underscoring the nervousness surrounding U.S. efforts to isolate Beijing’s chip industry.

Shenzhen Rongda Photosensitive Science & Technology Co. Ltd., supplier of compounds known as photoresists that are essential in chipmaking, soared 20%. That leap, which follows a 20% gain Wednesday, came after several posts on WeChat, which Bloomberg has not verified independently, that an unnamed Japanese company had cut off supplies of the compound.